Graeme Forster

Graeme Forster from Orbis Investments shares his insights on Rolls-Royce's journey in the aerospace market. He discusses the company's historical evolution from luxury cars to aerospace dominance, highlighting engineering innovations and market dynamics. Graeme offers candid commentary on profit dynamics in civil aerospace and defense, emphasizing aftermarket strategy and operational efficiency. He also navigates the complexities of capital allocation and investment challenges during the company’s recovery, revealing how crises can uncover new opportunities.

Graeme Forster from Orbis Investments provides insights into Rolls-Royce's evolution from luxury cars to a leading aerospace manufacturer. He discusses the critical dynamics of aerospace engine sales and the significance of long-term service agreements. Graeme analyzes profit margins and explores strategies employed by new leadership to enhance profitability. The conversation also touches on the future of nuclear power, emphasizing the role of small modular reactors. Overall, his intellectual honesty about the company's challenges and opportunities is refreshing.

Graeme Forster, an investment professional at Orbis and author of influential research papers, shares insights on shifting global macro trends. He discusses the potential reversal of the U.S.'s long dominance, the attractiveness of international markets, and the evolving role of the dollar. Graeme highlights the implications of AI and capital expenditure on investment strategies, emphasizing the importance of humility and adapting valuations to new market realities. He also cautions against conflating mega-cap stocks with American exceptionalism while exploring opportunities in emerging markets.

Dr. Graeme Forster, Director and Portfolio Manager at Orbis, shares his fascinating journey from mathematics to value investing. He discusses legendary investors like Jim Simons and the success of Orbis' founder, Allan Gray, emphasizing the importance of flexibility in investment strategies. Graeme introduces the concept of the 'Great Misallocation' and illustrates how good, cheap companies excel in bear markets. His unique blend of macro and micro perspectives offers valuable insights for investors navigating today's complex landscape.

Graeme Forster of Orbis Holdings discusses their unique investment approach, mathematical epidemiology, comparing winning in capitalism and the lottery, investor longevity, investing in commodities, differentiated thinking, analyzing Japan's corporate governance change, factors driving change in the Japanese business landscape, mentors and favorite books, and reflections on investing in the early 90s.